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When you start in the forex trading market, it is important to avoid errors. Usually there are a number of common mistakes that investors make, especially those who are still new. Since forex trading is one of the most unpredictable investments you can make, partly because of market volatility, it can be difficult, if not impossible, to find a strategy that is infallible.
What are the best forex trading indicators and how to be successful in this market, even working from home in your spare time? Generally there is no exchange market indicator, best of all, because there isn't always one indicator which function perfectly. It is only by combining the various currency market indicators that you can build a solid trading strategy to be successful.
Two of the indicators used by traders at the beginning in the currency market, are the simple moving averages and Bollinger bands.
The simple moving average is calculated starting from the average price of a given currency pair for a specified number of periods. You can create moving averages starting with the opening, the maximum, the minimum and the closing values.
Bollinger bands give an idea about the instability of the market and help to determine the standard deviation of the market. This gives the trader an indication of the scenarios overbought and oversold, helping to choose its entry points and goals.
Two other indicators to consider are the stochastic and the Relative Strength Index. The first is used to find trends in the market, so that you can always know exactly which way to open up their positions. The stochastic is instead considered by many to be the indicator as to the final decision to open a position or not. It is easy to use and very effective.
So we have seen that these are the best forex indicators for beginners operating in the forex market. Being able to learn their use really helps the trader. They can in fact be used to make trading in the direction of the trend or even to trade against it.

Since the stop loss subject is extensive, involving many other topics, I will discuss only the initial stop loss that is necessary to control the losses if the trade will not be successful. Let us now see the four best stop-loss techniques applicable to many different trading systems.
Stop based on volatility (Volatility Stop)
Imagine a market where the candles have a width of 120 pips. It makes sense to put a stop loss at 5 pips away from your point of entry? Unless your strategy is not a form of super-extreme scalping the answer is No. If you get into a certain direction you have to ask if you're giving the market time to develop in your favor, without which, insignificant fluctuations close down your position prematurely. On the other hand, one stop too distant, will lead to losses that you can hardly recover. Looking at the average volatility you can understand, therefore, where it makes sense to place the stop loss based on the breadth of recent market movements. Thanks to the ATR (Average True Range) indicator you can easily obtain the volatility of the last N bars. The value obtained will be the basis for choosing your stop.
Stop based on support and resistance
Another powerful way to set the initial stop loss is based on what is the reality of the graph. Markets will offer a wealth of information: the prices are clearly moving in one direction? The prices are moving wildly within a certain range? Through observation you can have a number of ideas to find a price level above which we have little hope that the trade turns in our favor in the short term, or not to proceed further against us by exposing them to excessive drawdown.
Stop based on indicators
Some traders, lovers of technical analysis, tend to base every aspect of their trading on the results offered by various indicators: list the various methods used would be impossible, so I will limit myself to one example. A fairly common technique is to enter and exit a trade based on the crossing of two moving averages.
Stop fixed to N pips
The stop loss is set at a certain number of pips from the opening portion of each position. This is an ordinary technique, where the distance is fixed and equal for each trade, such as 20 pips. You should exclude the idea of ??using a stop of this type since there are important gaps.
First, it disregards the fact that volatility varies over time and is never fixed. Generally, the shorter the timeframe used, the greater the possibility that the volatility changes.
Secondly, it is not connected to the reality of the markets: it does not consider resistance and support or other guidelines which may provide an assessment of the graph.
The only people who I think can use a fixed stops are experienced traders who intend to work with a very short term scalping technique, while maintaining a very tight stop loss.
Choosing an option or the other, would simplify what cannot be simplified. Every trading system, and each trade is a special case.
I have tried to provide meaningful tools to check your initial stop loss: making good use of them can greatly improve your trading.

We know that the Forex market is opened 24 hours on 24, five days a week, or from Sunday evening until Friday evening. The weekend all the exchanges are closed, so even currencies are stationary. The Forex opening on Sunday coincides with the opening of the first exchange of the week in the East.
Although it might be possible to do Forex in every moment of the day and in each of the times when the currency market is open, this does not mean that every moment is also good. There are times when it is more suited to trade currencies.
To have the greatest chance of success is absolutely indicated to do trading at one of these periods, not outside. The fact remains that even outside the periods of greatest importance is possible to have good results.
Surely, you do not make trading Sunday evening, as the majority of exchanges are still closed, especially those of greatest importance, such as the New York Stock Exchange or the London Stock Exchange which is the first in the world for currency traffic.
Also Friday and Monday morning are times to be avoided, since it is more difficult to make forecasts, and you risk to lose everything you have done during the week or starting on the wrong foot.
Then you should not trade close to, and just after, the release of a very important news. The reason is simple in this case, it would be better to wait for the market reaction to this news and try to ride the wave.
Also you should not do Forex during holiday periods, such as at Christmas or at mid-august, since the trades are substantially more thin and it is difficult to make a good prediction.
All other times are more or less good. Remember however that also depends on your way to trade.

While some traders open Offshore Forex Accounts because of tax advantages that can be seen in certain regions, there are other reasons as well. Since some countries have fewer restrictions on specific trading circumstances, added levels of flexibility can be gained with Offshore Forex Accounts.

Forex Accounts can be either “Live” accounts or “Demo” accounts. Live accounts allow traders to deposit funds and make trades using real money. Demo accounts, however, allow new traders to practice strategies using virtual money that involves no real ri